The global 3D printing materials market will exhibit a CAGR of 18.0% between 2014 and 2020. The market was valued at US$450 mn in 2013 and is expected to reach US$1.4 bn by the end of 2020, according to a research report released by Transparency Market Research. The report titled “3D Printing Materials " Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 " 2020” is available for sale on the company website.
According to the report, the global 3D printing materials market is primarily driven by a growing adoption of 3D printing technology across a large number of application segments, especially education and government. The market is further driven by supportive regulatory provisions by government bodies mostly in developed nations. All factors combined are expected to drive the growth of the global 3D printing materials market in the given forecast period.
In terms of volume, the global 3D printing materials market was measured at 2,000 kilo tons in 2013 and is expected to increase at a fast pace.The report delivers a segmented analysis of the global 3D printing materials market for the sake of simplicity. In terms of product segment, the market was led by plastics in 2013, with a share of 48%. The plastics segment is also expected to be the fastest-growing segment in the global 3D printing materials market for the report’s forecast period owing to a high demand for plastics from the electronics industry.
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Among the various application segments of the global 3D printing materials market, consumer products account for the largest share of 23% in 2013. The automotive industry held the second-largest share in the same year. The segments of consumer products and electronics are expected to exhibit a CAGR of 17.0% from 2014 to 2020. Other application segments of the global 3D printing materials market include aerospace, education, industrial, medical, and other minor segments such as military and architecture.
Geographically, the global 3D printing materials market was dominated by North America in 2013 owing to a large-scale use of 3D printing tech. The report suggests that North America is expected to retain its leading position in the market for the given forecast period. The fastest growth rate in the global 3D printing materials market is attributed to Asia Pacific due to a rapid rate of adoption of 3D printing tech by the emerging economies of China, Japan, and South Korea.